Global Barium Carbonate Market
Dublin, Sept. 29, 2023 (GLOBE NEWSWIRE) -- The "Barium Carbonate Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The global barium carbonate market has witnessed substantial growth, reaching a size of $617.8 million in 2022. The market is poised for further expansion and is projected to reach an estimated valuation of $911.6 million by 2028. This notable growth is underpinned by a robust compound annual growth rate (CAGR) of 6.5% during the period from 2023 to 2028.
Barium Carbonate Market Trends:
The global barium carbonate market is on a trajectory of growth, primarily fueled by rapid expansion in the construction and real estate industries. Governments worldwide have placed a significant emphasis on infrastructural development, driving demand for bricks and ceramic tiles.
Additionally, rising urbanization and disposable incomes, particularly in developing nations, have led to increased sales of premium-quality decorative items such as vases, glass paintings, and ceramic figurines. The electro-ceramics sector is experiencing substantial growth, with barium carbonate playing a pivotal role in the production of components like piezoelectric transducers, electromechanical devices, sensors, and optical modulators.
Furthermore, the industry is adapting to stringent environmental regulations, driving key players to adopt eco-friendly processes for barium carbonate production, such as using methane as a reducing agent. This commitment to environmental sustainability is contributing to a positive outlook for the market.
Key Market Segmentation:
The report provides a comprehensive analysis of key trends within various sub-segments of the global barium carbonate market, along with forecasts at the global and regional levels from 2023 to 2028. The market is categorized based on end-use.
End-Use Insights:
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Glass
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Brick and Clay
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Barium Ferrites
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Photographic Paper Coatings
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Others
Currently, barium carbonate finds its most extensive use in brick and clay production worldwide.
Regional Insights:
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China
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Japan
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Latin America
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Middle East and Africa
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Europe
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Others
At the regional level, China commands a dominant position in the market, accounting for the majority of the total global market.
Competitive Landscape:
The report meticulously examines the competitive landscape of the industry and profiles key players. Prominent players in the market include Solvay S.A., Chemical Products Corporation, Hubei Jingshan Chutian Barium Salt Corporation Ltd., Guizhou Red Star Development Import and Export Co. Ltd., Sakai Chemical Industry Co. Ltd., Hebei Xinji Chemical Group Co. Ltd., Shhanxi Ankang Jianghua Group Co. Ltd., Zaozhuang City Yongli Chemical Co., Ltd., and more.